11/22/2006

Another slow day, with sideway trading. The spx over 1400 and the vix below 10, wow the bulls are definitely controlling this bus. With today's news on oil disruption in Alaska, which rally the oils I took a short position on slb at 65.50. All eyes will be on tomorrow's inventory number which I think will be a build on gasoline and distillate. The last 2 week there were a drawdown , but this week will be the opposite. So for tomorrow, the oils will consolidate a bit in the morning and probably break even right before the oil inventory and if there is a build, it will drop like a rock. But, I'll probably be out of my position before the inventory numbers, with a long holiday coming anything can go wrong.

Longs Cost :

sndk 51.90

Short Cost:
slb 65.50